• Corporate Finance Transactions

O'Neal Steel Furthers Its Specialty Metals Offering

November 30 2005

Brown Gibbons Lang & Company (BGL) today announced the sale of its client, TW Metals, Inc. (TW Metals), to O’Neal Steel, Inc. (O’Neal), a leading full-line metals service center.  O’Neal will operate TW Metals under the name TW Metals, Inc. as a stand-alone company led by current management, including TW Metals’ President, Jack Elrod.  Terms of the transaction were not disclosed.

TW Metals is the product of the January 1998 merger between Tubesales, Inc. and Williams & Company, Inc.  Tubesales was founded in 1946 as a specialty alloy tubing and long products service center focused on the aerospace market.  Williams & Company was founded in 1907 as an industrial customer-oriented service center largely in the distribution of carbon plate and similar commodity products.  Today, TW Metals is one of the leading global service centers focused on specialty metals long products, including bar, rod, tube, pipe, and special forms primarily made from high grade aluminum and stainless steel, as well as carbon, titanium, nickel, and other high performance alloy metals.
 
Headquartered in Exton, Pennsylvania, a northern suburb of Philadelphia, TW Metals differs from its competitors primarily through its extensive inventory of, and access to, niche, specialized types of metal, unmatched reliability and quality standards, and overall customer service.  The company has long-standing relationships with its customers and specialty mill suppliers.
 
Before the sale to O’Neal, TW Metals was a portfolio company of Superior Group, Inc. (Superior Group), a Philadelphia-based holding company.  Superior Group engaged BGL to manage the sale process due to BGL’s extensive experience in the metals industry, including several recently closed and pending transactions.   
 
"BGL’s knowledge of the steel industry allowed them to identify potential buyers most likely to value TW Metals’ strong franchise and to articulate the positive changes in the marketplace.  The team executed a highly professional and efficient auction resulting in a tremendous outcome that pleased all of the parties involved in the transaction," said Peter Gould, Superior Group president and board chairman.
 
"We are honored to have been selected to assist Superior Group in achieving a favorable outcome to a long-standing and valuable portfolio company," said Scott Berlin, managing director and principal of BGL. "We believe that O’Neal Steel is an excellent partner for TW Metals’ management team."
 
About Brown Gibbons Lang and Company
Brown Gibbons Lang & Company (BGL) is a leading independent investment bank serving middle market companies and their owners throughout the U.S. and internationally. BGL’s professionals are experts in mergers & acquisitions, debt & equity placements, and financial restructurings. BGL is the U.S. partner in Global M&A, the world’s leading partnership of top-tier independent financial advisory firms focusing on mid-market cross-border transactions. For more information, please visit www.bglco.com.
 
About O’Neal Steel, Inc.
O'Neal Steel is a leading full-line metals service center, stocking a vast inventory of diverse materials at its nearly 40 strategically located district operations across the country.  O’Neal, which is the largest family-owned metals service center in the United States, also provides its customers with high-quality multi-stage metals processing. Additional information about O’Neal is available at www.onealsteel.com.

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